100 épisodes

Join industry professionals and personal investors from the Roofstock team as they discuss all things remote real estate investment. From time management, deal analysis, property management, financial considerations and scaling your portfolio, to interviews with other industry experts, this is the place to be to master real estate investment.

The Remote Real Estate Investor Roofstock

    • Investissement

Join industry professionals and personal investors from the Roofstock team as they discuss all things remote real estate investment. From time management, deal analysis, property management, financial considerations and scaling your portfolio, to interviews with other industry experts, this is the place to be to master real estate investment.

    Why Cost Segregation Studies Are Powerful For Saving On Taxes

    Why Cost Segregation Studies Are Powerful For Saving On Taxes

    One of the major upsides of investing in real estate is the tax benefits you can take advantage of as an owner. This episode covers a powerful tax strategy, the cost segregation study. Scott Roelofs from RCG Valuations, explains how they work, who they are good for and why you might want to start employing this strategy now to save big on taxes. 
    Visit RCG at https://rcgvaluation.com/
    ---
    Transcript
    Michael:
    Hey everybody, welcome to another episode of the real estate investor. I'm Michael album, and today I'm joined by a very special guest, Scott Roelofs. With RCG valuations, and Scott's gonna be talking to us today about all things cost segregation study. Some of you may or may not have heard about, but let's jump into it. Well, Scott, thanks so much for joining me today. Really appreciate you taking the time, man.
     
    Scott:
    Yeah, man. It's exciting.
     
    Michael:             
    So I just have to ask, I mean, you've got a ton of letters after your last name. I'm just curious. What do they all mean? What do they represent? Let us know give us some insight.
     
    Scott:
    The big ones, CFA, Chartered Financial Analysts, you know, three years of study, average pass rate is 45%. So basically 8% of the people who try to get it actually do get those three letters. So that's kind of the big one ABV, that's
     
    Michael:
    Your alcohol by volume.
     
    Scott:
    Yeah, alcohol by volume. Yeah. It's an auditing. It's a construction, auditing. accreditation, then you have a IMS, which is asset management, AWS, which is a wealth management. I also have 679 1063 life health. It's actually funny, my cousin who is smart as I am, she comes up to me, and she's like, so are you done educating yourself? And I'm like, Yeah, I guess so. I guess,
     
    Michael:
    I guess I shouldn't be.
     
    Scott:
    So yeah, so I guess I'm, that's an…
     
    Michael:
    Awesome,
     
    Scott:
    You know, you may not know what they all look like, but you're like, there's a lot of them. So, yeah,
     
    Michael:
    Totally. So there's not a whole lot that you don't do in the financial world. That sounds like?
     
    Scott:
    I feel like I can walk into any room and hold down in any kind of conversation, whether it's, you know, in business or, you know, venture capital or anything like that.
     
    Michael:
    Awesome. And so did you are you the founder of our CG Valuation & Monetization?
     
    Scott:
    I am, yeah, I started doing cost segregation, kind of like in a selfish ways I had owned my own office and didn't want to pay as much taxes. So I started looking around and got introduced to it. And then I found a company that actually allowed me to do them, and like, actually kind of do the work. And they would help with some of the engineering and that worked out great for a while, but what happened is, is I started to look at things and go, okay, you know, you send me out with a measuring wheel and a measuring tape. And some of these places are huge. I mean, just my first one, which was our office, I own a portion of, like, the land of a whole bunch of offices, it was eight acres. And we had to, you know, count and measure, you know, is something like 2500 shrubs, you know, it was bananas.
     
    And I'm like, this is an awful way of doing this. And so I started searching around, I first found, I got into, like, the drones, which is kind of a hallmark of what we do. And then we added the interior, I saw commercial for matterport cameras. Yeah, that's kind of like used for real estate. And I saw that commercial, I don't, man, if that can measure, like, I really got something and turns out again, so well, voila. So now we have the, you know, interior exterior, you know, kind of all this stuff. So but what happened, and I think this is, you know, just an a general business since this is interesting. But I started to try to implement the technology with the other company. And we kept running into roadblock after roadbl

    • 36 min
    Is Now A Good Time To Sell Instead Of Buy Real Estate

    Is Now A Good Time To Sell Instead Of Buy Real Estate

    Housing prices have continued to rise over the past year as listings have dropped by about half. Given this super-competitive market, is now a better time to sell or should you continue your acquisition cycle? In this episode, we discuss the investing philosophy and considerations you should take when thinking about selling your property.
    ---
    Transcript
    Pierre:
    Welcome to another episode of the remote real estate investor. I'm Pierre Carrillo. And today I'm here with the usual suspects Tom, Michael and Emil. And today I'm going to be asking them about rising home prices in the markets right now. And if it's a good time to sell instead of buy, so let's jump into it.
     
    Pierre:
    Alright guys, so, like we talked about previously, my brother and I are working on buying some houses right now. And one of the things that we're seeing is that compared to last year, active listings on the market are down 52% the prices of homes are climbing continuously, there's like 16% up year over year and they're continue to climb. A lot of the projections are saying that they're not going to drop anytime soon. Is this a good time to sell? Are you guys selling? And if not, like when is a good time to sell?
     
    Michael:
    Yeah, such a good question. Tom do you want to take a first crack at it?
     
    Tom:
    What's the acronym that Bitcoin guys say hodl, hudl, huddle? Do you know I'm talking about?
     
    Emil:
    HODL!
     
    Michael:
    We're not all Bitcoin guys. Now, Tom, we don't know what that is.
     
    Tom:
    I'm sorry. I'm excited. I bought my first little fractions sliver of one. And I just am using their acronyms now HODL.
     
    So yeah, Pierre good question on, you know, looking at some of the stuff I think for myself, and I would assume also for Michael and Emil, is that we're pretty long term bullish and going through year over year, like there are going to be some trends. But like, over the long time, like, the way that I think about building my real estate portfolio is I just want to build this big cash flow machine. And like, yes, there's going to be fluctuations on like, what's available for sell prices are doing but looking at my North Star is just building this long term growth machine. Like I can't be like chasing a car just like falling metrics. And like, Oh, I should sell right now.
     
    So it's like having a long term perspective. That's not to say that I don't sell because I think sometimes it is opportunistic to sell. A lot of my more recent dispositions have been consolidating in specific markets. So let's say I have a property in like a corner where I don't want to have any scale in that market, maybe it makes sense to sell it, maybe I've caught some nice appreciation, you know, I had a property in the corner of market where they have like, I didn't have a lot of properties. And also there was like, some, like legitimate, like weather concerns of like floods and stuff and like I don't want to sweat that out every single time if I'm not planning to get you know, the right kind of insurance to protect myself against that. So my meandering answer of a question is you know, sometimes there is a place to sell but I you know, I won't sort of panic sell and in monitoring those metrics, because I use my North Star to hang on to so enough pontificating Tom, somebody Michael Emil jump in quick.
     
    Michael:
    So I think it's a really good question, too. And so I actually am in the process of selling a couple properties. I think I've talked about it on a couple episodes in the past, but I have a six unit out in the Midwest that I'm under contract to sell. And then I just sold a luxury condo in Southern California.
     
    Tom:
    Oh, congrats, man. That closed.
     
    Michael:
    Yeah, that close. So I was super excited, thanks for short story long is that they asked for a reduction in rent, because of COVID, which we were happy to give them. The property wasn't cash flowing. Really b

    • 21 min
    Here's What You Need to Know About Selecting Reliable Renters

    Here's What You Need to Know About Selecting Reliable Renters

    Selecting strong renters can be the difference between a cash-flowing property or an alligator. Even if you can get a judgment on a tenant that owes you big, collecting on that judgment is not a guarantee. 
     
    On this episode, Steve White From RentPrep gives us the scoop on how you, as a landlord, can do the proper due diligence on your applicants to save you time, money, and headaches. 
    Website: https://rentprep.com/?utm_source=roofstock&utm_medium=podcast&utm_campaign=steve-media-outreach-2021
    The "RentPrep for Landlords" Podcast: https://podcasts.apple.com/us/podcast/rentprep-for-landlords/id851540886
    The "RentPrep for Landlords" Facebook Group: https://www.facebook.com/groups/RentPrep
    ---
    Transcript
     
    Michael:
    Hey everybody, welcome to another episode of remote real estate investor. I'm Michael Albaum and today I'm joined by Steve White, founder and CEO of rent prep. And today Steve and I are going to be talking about all things tenant background check related. And we're also going to delve into some things that you can do personally to boost your credit score. So there's a lot of fun information in here. Let's jump into it.
     
    Well, Steve White, thanks so much for joining us today, man. Really appreciate you taking the time.
     
    Steve:
    Yeah. Thanks for having me on. I appreciate it.
     
    Michael:
    Absolutely. So you're the founder and CEO of rent prep, right practice? Yes, I really want to want to dive into what that is. But I would love to get a little bit about your background first, and how you got into the space?
     
    Steve:
    Sure, yeah, I'm totally on accident. I never intended to be doing background checks at all. So I, I got out of the Marine Corps, I served eight years took an opposite direction. And most of the guys that I knew that were getting out and becoming police officers, or getting into law enforcement in some way, and I sort of went the corporate america route, and I worked for a company that played a really niche role in a legal process called a replevin order. Nobody's probably ever heard of that. But…
     
    Michael:
    No, what is that?
     
    Steve:
    So if you can imagine, as you're driving down the road, and you see these really big, like, street paving machines, that, you know, like construction equipment that are usually like a million dollar piece of equipment, the company, if the company stops paying for it, and the bank wants that piece of equipment back, you can't just go and pick something like that up. And so if you
     
    Michael:
    Take a put on a tow truck,
     
    Steven:
    Right, no, it's a huge process, you usually got to break it down into pieces and ship it in on multiple vehicles. So what we were doing was arranging those replevin orders that were that had to be organized in the local municipality. So we would have to coordinate with the sheriff's department and local attorneys and, and get all this stuff organized. So I was doing that, you know, on the corporate side, kind of in the banking world and decided I could do it on my own and started a company that did exactly that. And I started it in 07, which was perfect timing for the big financial recession that happened two years later.
     
    Michael:
    Right!
     
    Steve:
    And, yeah, that definitely put a damper on things and made us get really creative for looking outside of the box with different business ideas. And we had a client that that basically came to us and said, hey, I've got rental properties. And you guys are using software to track down pieces of equipment and figure out where you know, where job sites are, where people might be where people might be hiding things, do you think you can tap into that or use some of that same, you know, access that you have to let me know if somebody would be a good tenant or not. And like any good entrepreneur, I said, we can absolutely do that for you before I knew how to do it.
     
    So the business started there re

    • 52 min
    Is It Time To Dump Your Property Manager?

    Is It Time To Dump Your Property Manager?

    We have all had a bad experience with a property manager. But when is the right time to let one go? Alternatively, when is it the right time to fire yourself as a property manager and hire someone else? These are the questions we address in this video while pulling from our own personal experiences for real-life examples.
    ---
    Transcript
     
    Emil:
    Everyone, welcome back for another episode of The Remote Real Estate Investor. My name is Emil Shour and my co hosts are,
     
    Tom:
    Tom Schneider
     
    Michael:
    and Michael album.
     
    Emil:
    And on today's episode, it's going to be a little bit less rosy. But we're going to be talking about what happens when you have a property manager that isn't working out. Essentially, how do you break up with your property manager? All of us have gone through this experience and so we're going to try to impart some knowledge on you guys. So let's hop into this one.
     
    Alright guys, before we get into this episode, I want to give another listener shout out. So this is from longtime first time in a car who left us a review on Apple podcasts said love this pod found this by following Michael on Twitter, and love listening and learning a lot. The hosts are also very friendly and engaging on Twitter answering questions, and suggesting pod episodes for subjects. Great guys and just overall helpful for learning about real estate investing. So this is a shout out to us specifically, Michael well done. Michael. What's your handle?
     
    Michael:
    Thank you. Thank you. It's really complicated. Remember, it's @albummichael.
     
    Tom:
    Oh a reverse one nice
     
    Michael:
    Yeah, but I think it just got assigned to me. I don't like I don't know a meal got me hooked on Twitter.
     
    Emil:
    You probably picked it I don't think they assigned it or maybe I don't know maybe when you put your name and…
     
    Michael:
    If I had picked it would have been like cool surfer Guy 23
     
    Emil:
    They probably just making a suggestion for you so that it's like really easy when you sign up right? So it's not the thing too much. And you can check it very well.
    Michael:
    That could very well be. But I was pretty overwhelmed with the whole thing to begin with. So I was like, whatever just basic is fine.
     
    Tom:
    Emil, you're pretty active on Twitter as well. Right? What's your handle? I'm at a meal. Sure. I used to be a lot more active. I used to post regularly I go on from time to time Twitter can be a fantastic place to meet people It can also be a wormhole place that just sucks you in for hours and you're like where the time go. So I tried to moderate I deleted off my phone now I just have it on desktop. Use it a little bit less. But yeah, I'm on there.
     
    Michael:
    Tom. Aren't you on there too lurker lurker 27?
     
    Tom:
    I'm a lurker. Exactly. Yeah. wallflower white noise22. No, TSchneido is mine. But yeah, not not super active, more just lurker.
     
    Michael:
    I had a call with someone from Twitter the other day, and it's a pretty amazing place to network. Like you're saying Emil. I've had conversations with some really amazing people have been able to network pretty amazingly, for lack of a better adjective when used properly. I think it's it serves a really cool purpose.
     
    Emil:
    Totally. And we even had one of those virtual meetups. I think it was in like November, December with a couple of us on Twitter. Yeah, that was fun, too.
     
    Michael:
    Super fun.
     
    Emil:
    Totally. All depends on how you use it. You can, you know,
     
    Michael:
    Use it for good or evil.
     
    Emil:
    Exactly. Anyway, just want to encourage people leaving us reviews, ratings, comments, whatever. We'll give you guys a shout out on future episodes. So wherever you listen your podcasts, leave us a comment or review. And we'll give you a shout out future episode.
     
    Nice. Alright, guys, this is a topic a little near and dear to my heart, because I'm going through the process right now. But you k

    • 34 min
    How Coach Dean Went From Analysis Paralysis to Scaling a Portfolio

    How Coach Dean Went From Analysis Paralysis to Scaling a Portfolio

    For may investors, buying that first property is intimidating to the point that they let deals just pass them by. In this episode Roofstock Academy Coach, Dean West, shares the story of how he moved through that pain point to eventually quit his job to invest in real estate. 
    ---
    Transcript
     
    Michael:
    Hey everybody. Welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by my co host,
     
    Tom:
    Tom Schneider.
     
    Michael:
    And we have with us a very special guest today, Dean West. He's actually a Roofstock, Academy Coach and consultant with us. And he's gonna be talking to us today about his experience and journey getting started in real estate investing all the way up to what he's doing now as a coach. So let's get into it.
     
    Awesome, Dean West. Welcome to the podcast, man. So happy to have you on.
     
    Dean:
    It's a privilege Michael. Thanks so much for having me on your show.
     
    Michael:
    Yeah, of course. So we wanted to give our listeners a little bit of insight into your background as an investor, and then ultimately becoming a rootstock Academy coach. So give everybody a little bit of background on who you are, and how you first got started investing in real estate.
     
    Dean:
    Yeah, happy to do so. So it was the spring of 85 that I was born, and then from there,
     
    Michael:
    and you've been at it ever since?
     
    Dean:
    Yeah, exactly!
     
    Tom:
    Spring of 85. Great time to be born. great time to be born,
     
    Dean:
    Isn't it? So I was born in South Africa, I made my move over to America in 99. Since I've been in us, I've been all along California. So I've started in San Diego, then I was in Los Angeles for a bit. And then I spent about 14 years in San Francisco.
     
    When I was in San Francisco, I spent the majority of my time so I was in a big four accounting firm working in the digital forensics e discovery space, which I loved. And I loved my colleagues and everything about it that at some point, I kind of got to this point in my career where I'm like, okay, I can either go for partnership, or I can kind of go this other path, which I've been had been slowly building over the past couple of years into real estate and I love Real Estate Guys Radio Podcast. And one of the things that I think Robert Helms always said was build a life that pays you to live it. So I've followed that ethos and quit my job and kind of pursue this full time.
     
     
    Michael:
    Amazing. But so if we just rewind the clock back a little bit, not all the way to the spring 85. But when you first got started investing in real estate, what was your first soiree into real estate investing,
     
    Dean:
    I started actually with my primary residence. So I purchased a home in San Francisco, I, like many other poor souls in San Francisco was hunting around with my wife for a few years or five years trying to buy a property. So I think I started in 2012 trying to buy a property and four years later, we finally found a home we've been making offers on these properties, but like everyone else, we were getting outbid and people were sending pretty pictures of their dog and family. In their little letter, though, we were kept getting outbid, and it was really quite frustrating.
     
    So what I did like any logical person would do is I bet 25% over asking which wasn't enough by the way there was 16 offers on this property I was in the 16 I didn't know where I fell off my offer but I knew I wasn't the best one out there because I'd come back for another best and final offer so I raised it yet again to 30% over asking and I had after sending all my money I had the privilege of sending all my money to the seller and Yeah, got my first primary residence.
     
    Michael:
    Awesome.
     
    Tom:
    So in San Francisco big city is this like like a condo or a proper house or a townhouse and I'm curious having you know knowing San Francisco decently well yeah live

    • 32 min
    What's A Realistic Time Horizon For Strong Real Estate Returns?

    What's A Realistic Time Horizon For Strong Real Estate Returns?

    How to do make money grow quickly, yet safely? Is real estate a good strategy if you need liquidity in 2-3 years? In this video, we discuss time horizons for real estate returns and what you could do if you need liquid cash within the next couple years but still want your money to work for you.
    ---
    Transcript
     
    Michael:
    Hey, everybody, welcome to another episode of the remote real estate investor. I'm Michael Albaum and today I'm joined by my co hosts,
     
    Tom:
    Tom Schneider,
     
    Emil:
    and Emil Shour.
     
    Michael:
    And today's weekend wisdom, we're going to be talking about some of the different time horizons to be thinking about with regard to your investment. So should you if you need the money sooner? Should you be investing in real estate? Do you see it as a long term growth vehicle? Or is it something that you're going to need in the more immediate future? So let's get into it. So, guys, we were chatting before the show, Pierre brought up an amazing question he's dealing with right now. And with his family that he's investing with, they are looking at investing money into real estate. And someone brought up the question of, well, the kids are going to college in a couple of years, should we be investing this money in real estate? What is the different time horizons that we should be expecting for real estate investments?
     
    So Emil, I'm going to kick it to you first, if you are planning on using a chunk of change in three to four years, you know, you're going to need it for something, whether it's a new purchase a car, kids going to college kids, you go into school, what have you? Should you be investing in real estate? What are your thoughts?
     
    Emil:
    Personally, I look at real estate only as long term investing. So if I was looking at something three years down the line, I would I would not take that money and put in real estate personally. Everything I buy, I'm thinking about in terms of at least 10 plus years. So
     
    Michael:
    And what are you worried about in that three to four year time horizon? Why wouldn't you put it in real estate? The last couple years, the markets been on fire?
     
    Emil:
    Yeah.Yes, yes, it has. But it's always hard to predict, will that happen? Just with real estate, in general, my thought is, on a long enough time horizon, it is much harder to mess it up. I'm, obviously I want to mitigate risk and do as good of a job and like, you know, you walk into a properties thinking like, Oh, my spreadsheet math is tells me I'm gonna make this much per year and blah, blah, blah. In reality, things happen, things break, you know, you have down years. And so to know that it's only going to be two to three years, it's very possible that that could be a period where either a the market goes down, we have some significant capital expenditure where cash flow for the year is negative, so you're losing some value there. So for me, I just I think two to three years, especially this is this is more of like a side hustle, quote, unquote, right? I don't I don't do real estate investing full time where I feel like I'm a pro and, and all that.
     
    So just for me, personally, where I'm at in my career, I don't, I wouldn't take short term money and put it in real estate and be like, Alright, I'm gonna get on two to three years. Plus, when you sell a property, you're typically paying five to 6%. So like, even let's say you have five to 6% appreciation, after you sell and pay your commissions and closing costs, all those things like a lot of that could just be vaporized. So I like holding for long term.
     
    Michael:
    I mean, I've got a follow up question for you on the timeline. So let's kick it out to a 10 year time horizon. Let's turn the clock back to somebody investing in 1999. They have a 10 year time horizon. Now 08 hits, they're planning on selling in 10 years, and they just get decimated?  Doesn't the same same risk facto

    • 18 min

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